I think that's smart overall, but to be fair most of the time the charts are already in a technical position that the news would push something in anyways, than everyone pulls up all the articles to tell us why the market moved. That's just been my personal experience though. It isn't always true, but if you go back and study the moves after a news event, price often mean reverts fairly quickly to correct the temporary imbalance. Very rarely does it change the actual technical direction for a substantial amount of time.
I'm going to take my few points here. But looks like I got out too early. I just didn't have a good read off this level.
Will see if NQ/ES move up overnight. Still have NQ 11506.50 and than 11208.00 below us. That would typically get hit relatively soon. So, unless something drastically changes things, I'll be looking for mainly for intra-day shorts tomorrow for at least 11506.50 to fill. Nothing against taking a long setup if it's there and develops, but I still don't like the long here.
The long side became less attractive to me this afternoon. I think a drop on ES into 3380 level might be one to watch.
My ST cycles are still rising into tomorrow morning so we'll see what happens. I'm still leaning bullish in short-term but acknowledge that we could have an interesting ride.
Well the issue that I see is we need an absolutely monster move to the upside like pretty much today in order for NQ not to retrace down to at least the highest level previously mentioned(11506.50) and the larger charts aren't in a position where that is going to be easy or a high probability. As long as NQ is trading below 11780.00 ish, my view is unlikely to change. Generally the way the charts look, today would be the day for further downside. So I'd expect some movement up prior, near and during the open to get everyone looking to the upside and will use that to look for a short entry if I get a signal. If we just rocket up and keep going up, than going to be a difficult day for me as may not have many trades if I don't get a short signal and don't like jumping in long in these scenario's as it can be tough to find an appropriate stop on the R/R. EDIT: I do see NQ went to the lows and than bounced pretty well, so that's interesting. Anyways enough talk lets go trade.